Section 7 in Banking Companies (Acquisition And Transfer of Undertaking) Act, 1969
7. Constitution of the Tribunal.-
(1)The Central Government may, for the purposes of this Act, constitute one or more Tribunals each of which shall consist of a Chairman and two other members.(2)The Chairman of a Tribunal shall be a person who is, or has been, a Judge of a High Court or of the Supreme Court, and , of the two other shall be a person who is Chartered Accountant within the meaning of the Chartered Accountants Act, 1949.(3)If, for any reason, a vacancy occurs in the office of the Chairman, or any other member of a Tribunal, the Central Government may fill the vacancy by appointing another person there to in accordance with the provisions of sub-section (2) and any proceeding may be continued before such Tribunal so constituted from the stage at which the vacancy had occurred.(4)A Tribunal may for the purpose of determining any compensation payable under this Act, choose one or more persons having special knowledge or experience of any relevant matter to assist it in the determination of such compensation.
